EU parliament backs labelling gas, nuclear investments as green

BRUSSELS- The European Parliament on Wednesday backed EU rules labelling investments in gas and nuclear

power plants as climatefriendly, throwing out an

attempt to block the law that has exposed deep rifts between countries over how to fight climate change.

The vote paves the way for the European Union proposal to pass into law, unless 20 of the bloc's 27 member states

decide to oppose the move, which is seen as very unlikely.

The new rules will add gas and nuclear power plants to the EU "taxonomy'' rulebook from 2023, enabling investors to label and market investments in them as green.

Out of 639 lawmakers present, 328 opposed a motion that sought to block the EU gas and nuclear proposals.

The European Commission welcomed the result. It proposed the rules in February after more than a year of

delay and intense lobbying from governments and industries.

"The Complementary Delegated Act is a pragmatic proposal to ensure that private investments in gas and nuclear, needed for our energy transition, meet strict

criteria," EU financial services chief Mairead Mcguinness said.

The rules have split EU countries, lawmakers and investors. Brussels redrafted the rules multiple times, flip-flopping over whether to grant gas plants a green tag.

Its final proposal fuelled fierce debate about how to hit climate goals amid a crisis

over dwindling Russian gas supplies.

Gas is a fossil fuel that produces planet-warming emissions - but far less than coal,

and some EU states see it as a temporary alternative to replace the dirtier fuel.

Nuclear energy is free from C02 emissions but produces radioactive waste.